Global gas & LNG weekly summary: 4 Nov 2022 Report

Commodity Market Report 04 November 2022

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Report summary

Mild weather suppresses demand once-again, resulting in another injection and further build-up of floating storage TTF’s front-month contract was trading at $35 intraday on Thursday, about a $5 jump from this time last week. However, this is more due to the jump to the December contract than anything else, as the fundamentals have remained bearish. The weather continued to be mild across Europe, resulting in the second straight week of demand-decline at a time when demand usually increases. Demand was down 47 mcm/d, totaling 958 mcm/d, a huge 502 mcm/d decrease from the 5-year average and 362 mcm/d below last year.

Mild weather suppresses demand once-again, resulting in another injection and further build-up of floating storage
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